BAR vs. AAAU
BAR (GraniteShares Gold Trust) and AAAU (Goldman Sachs Physical Gold ETF) are both Gold funds - BAR tracks the LBMA Gold Price PM ($/ozt) while AAAU tracks the LBMA Gold PM Price. Both are passively managed. Over the past 5 years, BAR returned 17.73%/yr vs 17.72%/yr for AAAU. With a 0.99 correlation, they move nearly in lockstep. BAR charges 0.17%/yr vs 0.18%/yr for AAAU.
Performance
BAR vs. AAAU - Performance Comparison
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Returns By Period
In the year-to-date period, BAR achieves a 0.02% return, which is significantly lower than AAAU's 0.05% return.
BAR
- 1D
- -3.65%
- 1M
- -7.97%
- YTD
- 0.02%
- 6M
- 2.66%
- 1Y
- 28.36%
- 3Y*
- 29.83%
- 5Y*
- 17.73%
- 10Y*
- —
AAAU
- 1D
- -3.64%
- 1M
- -8.02%
- YTD
- 0.05%
- 6M
- 2.64%
- 1Y
- 28.42%
- 3Y*
- 29.80%
- 5Y*
- 17.72%
- 10Y*
- —
BAR vs. AAAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | 0.02% | 64.12% | 26.97% | 12.96% | -0.55% | -3.92% | 25.02% | 18.16% | 9.09% |
AAAU Goldman Sachs Physical Gold ETF | 0.05% | 64.06% | 26.91% | 12.96% | -0.50% | -4.01% | 25.02% | 18.17% | 9.20% |
Correlation
The correlation between BAR and AAAU is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018 | 0.99 |
The correlation between BAR and AAAU has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
BAR vs. AAAU — Risk / Return Rank
BAR
AAAU
BAR vs. AAAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares Gold Trust (BAR) and Goldman Sachs Physical Gold ETF (AAAU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| BAR | AAAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.22 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.42 | 1.43 | -0.01 |
| Martin ratioReturn relative to average drawdown | 3.60 | 3.62 | -0.02 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BAR | AAAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.07 | 1.07 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.99 | 0.99 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 1.06 | -0.18 |
Drawdowns
BAR vs. AAAU - Drawdown Comparison
The maximum BAR drawdown since its inception was -21.53%, roughly equal to the maximum AAAU drawdown of -21.63%. Use the drawdown chart below to compare losses from any high point for BAR and AAAU.
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Drawdown Indicators
| BAR | AAAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.53% | -21.63% | +0.10% |
Max Drawdown (1Y)Largest decline over 1 year | -20.05% | -20.00% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -20.05% | -20.00% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -20.91% | -20.94% | +0.03% |
Current DrawdownCurrent decline from peak | -20.05% | -20.00% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -6.46% | -6.19% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.89% | 7.86% | +0.03% |
Volatility
BAR vs. AAAU - Volatility Comparison
GraniteShares Gold Trust (BAR) and Goldman Sachs Physical Gold ETF (AAAU) have volatilities of 5.66% and 5.66%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BAR | AAAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.66% | 5.66% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 23.34% | 23.25% | +0.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.69% | 26.59% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.97% | 17.90% | +0.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.42% | 17.04% | -0.62% |
BAR vs. AAAU - Expense Ratio Comparison
BAR has a 0.17% expense ratio, which is lower than AAAU's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
BAR vs. AAAU - Dividend Comparison
Neither BAR nor AAAU has paid dividends to shareholders.
Frequently Asked Questions
With a correlation of 1.00, BAR and AAAU move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
AAAU has higher volatility (5.66%) compared to BAR (5.66%). In terms of maximum drawdown, BAR dropped -21.53% vs AAAU's -21.63%.
On 5-year performance, BAR leads with 17.73% vs 17.72% for AAAU. On fees, BAR is cheaper at 0.17% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BAR has performed better with a 17.73% return vs 17.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BAR is cheaper with a 0.17% expense ratio, compared with 0.18% for AAAU.
BAR and AAAU have nearly identical dividend yields, around 0.00%.
BAR tracks LBMA Gold Price PM ($/ozt), while AAAU tracks LBMA Gold PM Price. They also come from different issuers: GraniteShares and Goldman Sachs. Their fees differ too: 0.17% for BAR and 0.18% for AAAU.
AAAU currently has the higher Sharpe Ratio (1.07 vs 1.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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